Guideline Value for PERIYAR NAGAR - T.K.Bhani 3rd Cross Street

PERIYAR NAGAR - T.K.Bhani 3rd Cross Street guideline value

The current guideline value of PERIYAR NAGAR - T.K.Bhani 3rd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of PERIYAR NAGAR - T.K.Bhani 3rd Cross Street has changed

The guideline value for PERIYAR NAGAR - T.K.Bhani 3rd Cross Street has undergone several revisions over the years. In 2002, the value was Rs 197 per sq.ft, which increased to Rs 217 per sq.ft in 2003. Following this, the value saw substantial growth, reaching Rs 1,100 per sq.ft in 2007. However, it dropped to Rs 3,500 per sq.ft in 2012, then decreased further to Rs 2,345 per sq.ft in 2017. The value then increased significantly to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,850 per sq.ft in 2024.

In terms of percentage changes, from 2002 to 2024, the overall increase is 1,854%. The value saw a 10% increase from 2023 to 2024, while there was a 49% increase from 2017 to 2023. The value decreased by 33% from 2012 to 2017, and there was a remarkable 218% increase from 2007 to 2012. The change from 2003 to 2007 was 407%, and a 10% increase was noted from 2002 to 2003. The register has no figure for this street for the years not mentioned.

Guideline values in Nesapakkam

In Nesapakkam, there are 148 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing PERIYAR NAGAR - T.K.Bhani 3rd Cross Street above this median.

• PERIYAR NAGAR - T.K.Bhani 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - T.K.Bhani 4th Cross Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - T.K.Bhani 1st Cross Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - T.K.Bhani Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - Sivalingam Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - Sabari Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in PERIYAR NAGAR - T.K.Bhani 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers PERIYAR NAGAR - T.K.Bhani 3rd Cross Street?

The Sub Registrar Office that covers PERIYAR NAGAR - T.K.Bhani 3rd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Nesapakkam

The guideline value is a crucial factor when buying or selling property in Nesapakkam, as it determines the minimum price at which a property can be registered. This value is used by the registration authorities to calculate the applicable stamp duty and registration fees during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of PERIYAR NAGAR - T.K.Bhani 3rd Cross Street?

The current guideline value of PERIYAR NAGAR - T.K.Bhani 3rd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 197 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1,854% over the years.

What are the other streets in Nesapakkam with the same guideline value?

Other streets in Nesapakkam, such as PERIYAR NAGAR - T.K.Bhani 1st, 2nd, 4th Cross Street, and others, also have a guideline value of Rs 3,850 per sq.ft in 2024.

Where can I find the registration office for this area?

The registration office covering PERIYAR NAGAR - T.K.Bhani 3rd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, the stamp duty for a property valued at Rs 38,50,000 would be Rs 2,69,500 at a rate of 7%.